Genpact Invests In High Performance Partners

Posted by Orb Staff on March 25, 2010 No Comments
Categories : Residential Mortgage

Genpact Mortgage Services has made an equity investment in mortgage technology provider High Performance Partners LLC (HPP).

Under this agreement, Genpact will leverage its Smart Enterprise Processes for mortgage services – a methodology for managing end-to-end originations and modifications – and HPP's software technology to provide mortgage clients with the capability to decrease cycle times, automate loan processes, increase pull-through ratios, and significantly reduce processing and hedging costs, the firms say.

‘Most loan originators and servicers work with antiquated data systems that impede processing, causing enormous inefficiencies as well as significantly extended cycle times when demand increases," says Taylor Woods, president of Genpact Mortgage Services. "Through our integrated solution, not only will we deliver automation for mortgage originations, but our experience in loan modifications presents a unique opportunity to help our banking and financial services clients efficiently and effectively work through the millions of mortgage loans that must be modified."

HPP's technology suite includes Web-enabled solutions, such as a borrower ‘help yourself’ portal and automated data provisioning and decisioning tools. These tools are delivered through a software-as-a-service model, which can be appended to the clients' existing systems. The HPP Quantum technology – combined with Genpact agents providing mortgage expertise on an onshore, offshore or blended-shore basis – provide clients with an end-to-end solution or a componentized solution.

The systems and tools are already in use by Genpact and HPP and require no change by clients. This solution can reduce the loan origination or modification process timeline to as little as five days from application to ready-for-closing, the companies say.

SOURCE: Genpact

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